Finding Financial Success in Uncertain Times
Revised online course available from MSU Extension
As recent years have shown, farming involves identifying and adjusting to many forms of uncertainty. Some of the most common areas of uncertainty often come from weather, market prices, and input costs. The Desire 2 Learn course “Finding Financial Success in Uncertain Times” is designed to help identify uncertainties and how to plan for and react to them for financial success. The course provides a roadmap for the journey ahead and helpful information available at several stops along the way.
One of the stops will include gaining an understanding of the importance of farm records in decision-making. Without good records, management decisions are made while viewing only a small part of the whole picture. Not seeing the whole picture can limit the opportunities for success.
Participants will also learn about how to find the farm's cost of production. This will provide a meaningful way for farm managers to make well-informed decisions. Cost of production will lead into a review of break-evens and their connection to marketing strategies. Which can be useful for several types of decisions, especially marketing.
Lastly, participants will discover how the farm's marketing strategy can be refined with insurance programs. Which, for many farms, will mean utilizing features they already pay for with their insurance, but rarely use in the decision-making process. The course has been updated to include insurance information and examples that can benefit field crops, fruits, vegetables, and livestock.
To register for this free course, please visit: https://www.canr.msu.edu/courses/financial-success-in-uncertain-times